Unpacking Estate Matters: Your Home After Loss

Losing someone close is tough, and handling their estate can be overwhelming. Let's navigate this together, shedding light on what happens to a loved one's home post their passing.

Step 1: Who Owns the Property?

For a rented home, it's returned to the agent once belongings are out. Joint tenancy? It usually goes to the surviving spouse. 'Tenants in common'? Now it's an estate asset, distributed as per the Will or state laws. Sole owner? It's part of the estate, guided by the Will.

Step 2: Clearing the Home

Create an inventory, be mindful of family emotions, and consider insurance. Only remove items post a thorough recording, unless the Will specifies items for certain beneficiaries.

Step 3: Value or Sell

Value the property if it goes to beneficiaries. If mortgaged, the common path is selling it, repaying the mortgage, and distributing the rest. Executors, be aware of mortgage protection insurance.

Step 4: Transferring Ownership

Joint ownership? Usually, it transfers to the survivor. If sold, keep proof of valuations and sales contracts. Follow legal steps to avoid potential claims.

At Funera Sydney, we're here to make this journey smoother. Contact us for support:

Sydney (02) 9954 6655
Sydney (02) 9954 6655
Newcastle (02) 4955 1110
Wollongong (02) 4243 8755